tv Bulls Bears FOX Business September 24, 2017 2:00am-2:30am EDT
>> another member. >> president trump: luther shares our convictions and our vision and maybe most importantly, he shares our agenda. we need each and every one of you to get a friend, to go out get a family member, get the whole family and bring them out to vote for big luther strange. got to vote for him. >> [applause] >> president trump: big luther. >> dagen: trump, taxpayers, tuesday. the final countdown is on in an alabama runoff race between two republicans. one, the president is backing and the other the president is not and if gary b. smith is right taxpayers who want their cuts better watch this one
closely. hi everybody i'm dagen mcdowell, this is bulls & bears. along with gary b., the bulls & bears this week, john layfield along with emily deshin ski. welcome to all of you. gary b., why should taxpayers care about how this one turns out? >> well, dagen i think it's very simple. unless the congress is stacked with people who think like trump , not an ideal log, a deal maker or 500 odd deal makers no tax legislation will get through i think people were thinking that donald trump was maybe a next ronald reagan, you know, a sunny straightforward optomist that had very conservative beliefs but he's shown for better or worse he's willing to change with the wind. he just wants to get things done i think that's generally good. the people in congress now are
more rigid in their thinking and they don't want to get things done so the more people that trump puts in congress who think like him, that just want to move forward, the better chance we have of getting tax reform done. >> dagen: john do you agree with gary b.? >> i do agree with gary b. that look you need some like-minded individuals and reach across the aisle. i think it's just that obamacare passed with 100% partisan vote and if it's repealed it's 100% party partisan vote. these guys refuse to work together on what they think is the best or worst things in the economy. and if they can't work together on that they can't work together on anything but this luther strange versus mr. moore down in alabama is like an 0 & 10 football team and you're saying our running back is now challenged for his position as running back. we are already 0 & 10. it doesn't matter. luther strange was already there and replaced jeff sessions, zero got done with luther strange in congress. i don't think this race matters whatsoever. i just don't think it's reasonable to think congress
well get anything done. >> dagen: but emily one reason that president trump is standing by luther strange is he's been loyal to me and he hasn't asked for anything in return, whether it's trying to fix the disaster that is obamacare, when you have fellow republicans, again john mccain on friday who won't step up and vote for something that could dramatically alter obamacare for the better, for many americans. >> right and that's key and this race is key, but there are some key differences between luther strange and between luther strange and moore but there's one similarity. now there are differences moore has seen more as this luther strange is backed by trump has kind of seen moore as the establishment guy who will cooperate with mitch mcconnell. mitch mcconnell is spending a lot of money to make sure that moore is not elected so if moore is elected there is a lot of hostility between him and mitch mcconnell which could make it difficult to pass the trump agenda in as far as mitch mcconnell is willing to advance it. now, the key similarity between
both of them is they're going to be responsive to a very trump- friendly alabama election so at the end of the day it's likely that both of them will advance his agenda just probably go about it in ways that could be different for the party. >> dagen: but jonas, one thing that the president needs and frankly all americans need is something that helps economic growth, that puts more money in their pockets and that is fixing obamacare and front and center come next week will be tax reform. >> there's no question the person trump is backing is going to help go in that direction. the problem is it's like nine people short of doing the job. you'd need to have a lot more people like this elected into roles which are not even up for office so it's not going to happen basically there's no path here. the president does not have the opportunity obama had which was an opportunity to raise the deficit more because it was relatively low compared to the current things and he had more votes on the same side. obamacare, they got all of the votes in line for that, so this
president we need more people voting his way or he's going to have to get votes from the other side and obama didn't have to do that with apa, so i don't see a path to getting major legislation done which doesn't have one of these two things happen. you think you can have a lot of wins in the midterms and go that way but in all likelihood these plans have to get votes on both sides and lose votes on both sides too maybe lose 10 republicans but gain 15 democrats the only way to get changes done. >> dagen: chuck i'll give you democrats one thing. you circle the wagons and get in line and you stick by each other , even when your ideas are crazy. >> [laughter] look, i never going to come on this show and tell all you smart people how to do your stock so let me tell you something about politics and why this does matter so why this matters is you've got luther down there that trump is with and roy that steve bannon and other folks is with. the reason this really matters and trump needs this is we're heading into a midterm election normally with the incumbent president loses seat so if you really want to get tax reform
donor things done the president needs to have head way moving into those elections and i think we should step back for a moment and recognize good old southern names luther running against roy for the u.s. senate for god sakes in alabama. >> dagen: [laughter] but gary b. , i like how chuck says we do stocks here, so i'll leave it at that. but gary b., to that point that you've seen there's such a push back from trump's fellow republicans that when he reached across the aisle to get that short-term spending bill done he says get out of my way. i'm talking to nancy and chuck over here and do you know what? voters loved it. >> exactly. one note do you notice chuck did not deny that his and the democrat's idea are crazy he just went right by that. so absolutely. i think what the republicans saw was that under obama, the left
as you said circled their wagons and they were very rigid. it was obama who said elections have consequences and they said darn it, we're going to have a spine too and we're going to stand up for things and what's happened is john layfield said you'll have this total grid lock nothing is getting done. again for better or worse, you know a lot of people have one view of trump. he just wants to get things done i don't think all of them are good. i don't think all of them are bad but he wants to move forward and that's why people are applauding it. >> one quick point though is it's not the ideal logs who are obstructing but actually like john mccain. you had ted cruz, marco rubio, mike lee and the freedom caucus come together so it's not necessarily them calling obstruction legislatively. >> dagen: but john do you know what it is. it's lawmakers whether senators or congress men just acting in
their own self-interest and very often not willing to take a risk which is exactly what you're see ing with this healthcare repeal. they don't want to take a risk because they're worried about their own even though this legislation would help americans , they are worried about when they come up for re- election. i think we're giving them way too much credit here. it's all of congress. the greatest analogy this week it's not that they can't chew gum and walk at the same time. they can't chew gum or walk. you get paul ryan gum and mitch mcconnell the ability to walk they aren't going to get it done they have gotten zero done. they promised for seven years they would have obamacare repeal on the first day and promised by the august recess it would have tax reform. it's not coming. the one thing that we have a chance of getting if tax cuts for the corporate tax rate and also for repatriation of money. if that happens it's going to be big for the economy but 86 it took years to get tax reform done and that was the president who was very popular with the congress that did somewhat work together. >> dagen: amen, thank you guys
and gals. cavuto on business about 20 minutes from now neil what have you got? >> neil: dagen do you think china is telling its banks to cutoff north korea? someone here says don't bank on it, and you may have heard about a tiny rip between republicans but what about the division among democrats? the revolt on the left, that no one is talking about, but we are see you soon. >> dagen: thanks, neil. we can't wait. but up here first america rushing to the rescue as natural disasters strike mexico and the caribbean. is it time for those who keep knocking america around the world to takeas it breaks throu.
u.s. but you say look at the good we're doing. >> in the history of the world america is by far the most generous country in that history we give $50.1 billion last year in foreign aid. look at what american billionaires are doing in africa trying to cure mall area and cure aids, what specially led by bill gates and the bill gates foundation. we protect the world's shipping lanes so a lot of countries don't have to have extra fleets because we protect the commerce around the globe. i'm very proud of america's generosity. america has its faults but the generosity of americans is something to be very proud of. >> dagen: gary b., why do we get bashed so much though? >> you know, i guess there is the perception of the ugly american that has persistent persisted probably since the 60s i suppose but really it comes down to the facts and we should and at least in the area of generosity and giving john pointed out how much we give. we give on a per capita basis as a percentage of gdp almost twice
as much as the next country new zealand in the world. that's phenomenal so the other thing that john pointed out is the generosity both of our government and of corporations. you have companies like budweiser canning water and bringing it down to places like houston and florida. you have companies doing the same thing for countries in the caribbean, so america is a giving country. i think sometimes other countries don't appreciate that or don't like to acknowledge it. >> dagen: and check you're from texas. you saw it firsthand after harvey. you've seen it firsthand of just americans helping one another and nobody ever stops to ask what's your political affiliation. >> you're exactly right and i was home this weekend and that's probably why i ate so much water burger i was back in tyler texas with my friends and i come from the red it's part of america and
i'm as blue as the day is long. we had a fish fry, john and stanley and glenn and luke and all my boys they love trump they love republicans but if i got in a bind who i would call and i know would be there in a heart beat are my friends. that's why the rest of the world is very jealous because no matter what our political differences may be they're my brothers. we grew up together and we may disagree on politics and policy but we love each other and will always be there. that's what makes us different. >> dagen: you saw emily here in the united states and you particularly see it overseas after these natural disasters. it's churches and church groups and religious groups who jump in and say what do you need, how can i help? and it's just breath taking. >> right and that's why too often it is fun for people to focus on the negatives whether it's the negatives about america or the negatives about religion but that's why it's important for us to have these conversations in times of devastation and tragedy because there's a lot of good that comes
from both of those entities and we've seen that play out beautifully despite the tragedy over the past month. america ranks routinely at the top of the list of the most generous and charitable countries and the most generous and charitable people and so i think we should take a moment to appreciate that spirit and focus on it a little bit. >> dagen: jonas, we still get bashed time and again. we get bashed for the fact, we get bashed at the u.n. this past week for example, despite us covering 22% of the general budget there. >> but it's like the way mayweather gets bashed. at the end of the day a lot would take u.s. citizenship around the world if you offered it to them. they might complain about us but nobody is more generous. everybody knows it and we've saved the world a million times over whatever. our generosity can't bankrupt us so we have to plan to be able to do these things and be the shining star in the world. we won world war ii because of the ability to borrow money. we can't ever lose that ability by not having a plan to pay for
all these disasters and things. >> dagen: but gary b., a final word to you. effort doesn't bankrupt you. it actually makes you richer as a person and a nation and that's ultimately what all americans bring to the table. >> i think what you're talking about dagen is karma and hopefully it helps us out not only now but in the future. i don't think anyone is doing or being generous because they expect payback but i certainly think it helps and maybe eventually it will help with worldwide relations. >> dagen: gary b. final word there thanks guys and emily. catching him just over an hour from now melissa francis is hosting today. >> hi dagen republicans set to unveil their tax plan this week. if they don't go big and bold will it be a bust for you and our economy plus president trump telling the u.n. general assembly it's unfair that the u.s. picks up nearly a quarter of its bills, are taxpayers
about to catch a break? cashing in see you at 11:30. >> dagen: thanks melissa. we'll be watching but up here first, democrats pushing new regulations in the wake of that massive data breach at equifax but someone here says that's not going to fix the problem. whose right, whose wrong, next. [hawaiian music playing]
breach. democrats are pushing for more regulations to protect the personal data of millions of americans but john you say the solution would create an even bigger problem? it certainly would because all it would do is open up these companies to more liability and more lawsuits. i wish there was a fix but the way technology is you make a law this year it's outdated by next year and the people you make laws about are operating in third world countries are countries that are off the map and they're doing this in the deep and dark web and it's almost impossible to track these guys and already illegal adding more regulations is the know the answer. >> dagen: gary b., it's equifax but let's go down the list of all of the major companies that have had one type of data breach or another whether it's a target or even a home depot they're asking for these regulations. >> well, in a way they are. look here is the difference and i can't believe i'm going to say this. if you get your data breach to target you can rip up your target card and if you go shop at wal-mart or something else the problem with these three credit reporting companies
equifax, transunion, is that they have have a note had around them. they're basically like public utilities. there's no competition. i can't go out and start a credit reporting company. it's almost impossible so they have to be repeated like utilities that they are and that needs regulation and i just can't believe i said that but that's how i feel. >> dagen: [laughter] chuck? >> so anyway first somebody should have recorded that and second i think that you should figure out that maybe not regulation but standards so the new economy listen to me. everything now is bought online and i'm not telling anybody anything they don't know so we should be able to protect that. when we bought a cell phone it came in a bag and now you can put it in your ear, right? you should have the same kind of technology protecting all of our data so somebody is already serving me an add what kind of hog feed i use we should protect that or we won't have an economy in a few years.
>> dagen: jonas? >> to gary's point these three companies abused their relationship with americans that said the top regulator of equifax is probably the securities and exchange commission they just came out and said they were hacked in 2016 and used insider trading which hurts other investors and these regulators get equifax which was only hacked in the spring to do a better job, so i would be concerned about the type of regulation they don't make any sense. i don't think we should have state regulations as a federal issue as to john's point where the threats are coming from. new york state is doing the best in this area and their regulations don't make any sense >> dagen: emily final word. >> everything we just heard is why republicans are doing the right thing and what they're doing is republicans and congress said we're going to listen to both sides of the argument and democrats have more regulations but republicans are saying look internet is a new frontier, we'll hear everybody out and make our decision maybe they will ask some of you guys to testify they should. >> dagen: thank you everybody and especial thanks to emily and chuck for joining us.
>> dagen: predictions gary b. go >> dagen i'm happy to say i made it through the hurricane and lessen learned own a generator 50% next two years. >> dagen: do you like it jonas? >> well the tesla power wall destroy this? >> dagen: john? >> bp has a 6.5% yield i think it's up 20% in a year. >> dagen: do you like it gary b. >> it's up 20% but a lot longer than a year. >> dagen: jonas, your prediction big win for science and kids as general mills got it loud and clear from consumers whole foods wants colors in their trix, becoming science engineers and
made america great. >> dagen: john help me. >> like jonas needs more sugar. >> dagen: [laughter] neil is now . pre rocket man should have been handled a long time ago. rocket man is on a suicide mission for himself and for his regime. >> i still got a kick out of that president trump calling this guy rocket man now what appears china is manning up i'm neil cavuto. if china is telling its banks to cutoff north korea charles payne says credit this guy leading america and gary willis, ben stein, and adam almost eshinski, so charles you like what you're hearing and seeing here? >> i think everyone is. listen it's tough, dangerous types and weee